Parler to expand into NFTs to take advantage of the growing digital assets

“Parler will continue to build out its digital offering with the NFT pipeline that builds communities,” the company said.

On Monday, Social media platform Parler said it will expand its business to non-fungible tokens (NFTs), underscoring the rapid growth of digital assets in recent months.

An NFT, a digital asset typically purchased in cryptocurrencies or dollars, includes everything from images, videos to text. Ownership records are tracked on the blockchain, which acts as a public ledger from which anyone can verify the authenticity of the NFTs.

Traded since around 2017, NFTs initially gained popularity in early 2021 and again around August.

Last week, former US First Lady Melania Trump launched an NFT and blockchain technology venture led by Parler. 

“Parler will continue to build out its digital offering with an NFT pipeline that builds communities and fosters creativity, while furthering its commitment to freedom of expression and protection,” the company said in a statement on Monday.” 

The app was launched in 2018 as a social-media site, styling itself as a free-speech space for those looking for an alternative to major platforms like Facebook and Twitter. It quickly gained traction from supporters of former US President Donald Trump.

However, the parler went dark for nearly a month after major technology platforms Apple, Google parent Alphabet and Amazon were hacked, which polished violent content related to the deadly January 6 attack on the US Capitol by Trump supporters. The app was used for the allegation of failing.